During the first five months of the year 2022, Monterrey looks unstoppable at the forefront of gross industrial demand, which already accumulates 721 thousand square meters and represents 27% of the national total. This market has positioned itself in recent years for its broad capacity for industrial growth, maintaining an inventory growth slope above 7% per year.

If we analyze the net demand, which includes vacant spaces, in the first quarter of 2022 alone the entity registered almost 180 thousand square meters, a figure that is 85% higher than that registered in the first quarter of 2021.

In the history of the last four years, the highest net demand was 362 and 319 thousand square meters and was registered during 4Q 2021 and 1Q 2020, respectively. It is over these periods that the highest peaks of requests were seen by various manufacturing and logistics companies that landed for the first time in the entity, but the vast majority corresponded to expansions.

Of the gross demand generated during the last year, including 1Q 2022, 55% of the areas that were commercialized range from 10 thousand to 50 thousand square meters with respect to the total surfaces, but if we analyze the number of transactions, 62% with Almost a hundred annual operations are concentrated in sizes smaller than 10 thousand square meters, which gives a marked dynamism to the industrial sector with multiple opportunities for developers and marketers.

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The causes that led to this growth are not only maintained for the remainder of 2022 but have increased, in the midst of an inflationary context and with significant rises in interest rates.

The Mexican territory, and mainly Monterrey, has been key to the relocation of various production processes that were previously located in Asia and this leads to an important development of suppliers that are increasingly promoted in our territory, where regional clusters have a predominant role. guaranteeing the functioning of the productive chains.

The industrial parks of Hofusan, Finsa Santa Catarina II, Prologis Dulces Nombres and Vymsa Santa Catarina and Escobedo are some of those that have hosted the most representative transactions, in a highly competitive market that indicates a vacancy of 2.4% at the end of May 2022 with a rental price that registered increases of 5% since the beginning of the year and closes with an average of $4.4 dollars per monthly square meter.

Economic conditions, even in the midst of a projected growth slowdown not only in Mexico but worldwide, lead developers in the region to step firmly in the selection of tenants.

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The challenge is to focus on the technological and design changes required by their properties, where the balance is increasingly tipping towards those properties that achieve compliance or progress by incorporating environmental and sustainability guidelines for properties and governance into their corporate structures. since the tenants will favor these options even if the price exceeds the average rents of the area to which they belong.

As of May 2022, construction is progressing for more than 1.3 million square meters, which today represents about 9.5% of the city's inventory, and which has not slowed down in recent quarters.

The options under construction range from 4.2 to 27.6 thousand square meters with a variety of sizes and developers, a diversification that generates strong competition that benefits not only the tenant but also the entity that manages to position itself above other industrial markets.

For this reason, it is expected that Monterrey in the remainder of 2022 will continue to lead industrial demand, generating even greater depth in the development of suppliers of the production processes that it houses today, proof of this is the strong commitment to expansions that we have seen in 2021, and so far in 2022.